Mobile cybersecurity startup Corrata raises $1.56 million to to support product development and expand sales
Dublin-based mobile cybersecurity startup, Corrata, announced today that it has raised €1.3m (about $1.56 million) through a financing round lead by leading European venture fund Delta Partners. A number of angel investors also participated in the round. Corrata has developed a breakthrough technology for protecting smartphones and tablets from cyber attacks. Corrata will use the funds primarily to support product development, as well as sales and marketing activities.
Founded in 2016 by technology entrepreneurs Colm Healy and Brendan McDonagh, Corrata helps organizations manage the costs, risks, and opportunities arising from their employees’ use of mobile data and services. Its patent pending software enables organizations to defend against mobile threats, block malicious and inappropriate content from the web or apps and eliminate unnecessary data usage.
Corrata’s technology provides enterprises with unprecedented visibility and control over mobile devices, protecting their employees from web, device and infrastructure based threats. With deep expertise in mobile devices, networking technologies, and information security, Corrata is ideally positioned to deliver the solutions that enterprises need to take advantage of the opportunities the combination of cloud and ubiquitous connectivity are creating
Commenting on the announcement, Corrata CEO, Colm Healy, said “Security conscious organizations are increasingly concerned by mobile threats, but struggling to find solutions which deliver effective protection. Our award-winning technology provides the most advanced enterprise protection now available. The funding we announced today positions us on the journey towards becoming the global leader in mobile threat defense.”
Maurice Roche, General Partner with Delta Partners commenting on the investment said “We’re delighted to be working with Colm, who lead Delta investee company, Xiam Technology, to its successful exit to Qualcomm. The strength of the technology, the quality of the team and the scale of the opportunity makes this an ideal investment opportunity for Delta.”
Corrata’s technology combines network and device level analytics to offer an unprecedented level of protection against the most serious threats facing enterprise mobile users today. These include SMS, messaging and app-based social engineering attacks, mobile malware and insecure Wi-Fi. Corrata’s technology prevents, detects and blocks such attacks in real-time. Corrata’s solution has been designed to support compliance with the soon to be implemented General Data Protection Regulation in particular, by minimising the amount of private data collected.
Delta Partners is a venture capital firm focused on investments in Ireland and the United Kingdom. It has a strong focus on investing in early-stage technology companies, and the team has made over 120 investments in the information technology, communications, and healthcare sectors.